Assessing the Impact of Higher Oil Prices in Latin America

For some Latin American countries - especially, the oil importers in the Caribbean - rising energy prices could pose a significant threat to their current account sustainability, particularly if they are accompanied by other negative shocks. In some countries the fiscal costs associated with subsidies to protect domestic consumers have been considerable so far. Hence, a better understanding of the effects of high oil prices and potential responses in the region is needed. This report evaluates the effects of oil shocks on economic performance for a sample of selected Latin American countries. The effects at the country level depend not only on the structural characteristics of the economy, such as the degree of dependence on oil, but also on the policy reactions to rising prices. Among the countries included in our study we have: large economies (Argentina, Brazil, Colombia and Mexico), net oil exporters (Venezuela and Ecuador), and net oil importers (Dominican Republic, El Salvador, Guyana and Honduras).

Bibliographic Details

Main Author:	World Bank
Format:	General Economy, Macroeconomics and Growth Study biblioteca
Language:	English en_US
Published:	Washington, DC 2012-06
Subjects:	AGRICULTURAL COMMODITIES, AMMONIA, APPROACH, AVERAGE PRICE, BALANCE, BARREL, BARRELS PER DAY, CAPITAL MARKETS, CEMENT, COAL, COAL GAS, COMMODITY PRICE, COMMODITY PRICES, COMPOSITION OF OUTPUT, CONSUMER PRICES, COPPER PRICES, CRUDE OIL, CRUDE OIL CONSUMPTION, CRUDE OIL PRICE, CRUDE OIL PRICES, CRUDE PETROLEUM, ELECTRICAL MACHINERY, EMPIRICAL ANALYSIS, ENERGY CONSERVATION, ENERGY COSTS, ENERGY PRICES, ENERGY PRODUCTS, ETHANOL, ETHYL ALCOHOL, FOREIGN EXCHANGE, FUEL, FUEL BILLS, FUEL EXPORT, FUEL EXPORTS, FUEL PRICES, GAS PRICE INDEX, GASES, GASOLINE, GASOLINE PRICES, HEAVY RELIANCE, HIGHER OIL PRICES, INCOME, INCOME EFFECTS, INFLATION, INTERNATIONAL ENERGY AGENCY, INTERNATIONAL OIL PRICES, INTERNATIONAL TRADE, MILLION BARRELS, MILLION BARRELS PER DAY, NATURAL GAS, NATURAL GAS PRICE, NATURAL GAS PRICES, NET OIL, OIL, OIL DEMAND, OIL EXPORTER, OIL EXPORTERS, OIL EXPORTING, OIL EXPORTING COUNTRIES, OIL IMPORT, OIL IMPORT BILL, OIL IMPORTER, OIL IMPORTERS, OIL IMPORTING, OIL MARKETS, OIL PRICE, OIL PRICE FLUCTUATIONS, OIL PRICES, OIL PRODUCERS, OIL PRODUCTION, OIL PRODUCTS, OIL SECTOR, OIL SHOCK, OIL SHOCKS, OIL SUPPLY, OIL SUPPLY DISRUPTIONS, OILS, OPEC, OPEC COUNTRIES, PETROLEUM, PLASTICS, PRICE CAPS, PRICE CHANGES, PRICE FLUCTUATIONS, PRICE FORECAST, PRICE INCREASE, PRICE INCREASES, PRICE INDEX, PRICE INDICES, PRICE OF NATURAL GAS, PRICE OF OIL, PRICES INDICES, PRIVATE INVESTMENT, PRODUCER PRICE, PRODUCER PRICE INDEX, RAW MATERIALS, REGRESSION ANALYSIS, RETAIL, RETAIL PRICE, SHIPS, SOY OIL, SOYBEAN OIL, SPOT PRICES, SUBSTITUTE, SUPPLY OF CRUDE, SURPLUSES, SYNTHETIC RUBBER, VEHICLES, WORLD CONSUMPTION, WORLD CRUDE, WORLD DEMAND, WORLD DEMAND FOR OIL, WORLD OIL, WORLD OIL CONSUMPTION, WORLD OIL DEMAND, WORLD OIL PRICES, WORLD OIL PRODUCTION,
Online Access:	http://documents.worldbank.org/curated/en/2012/06/16338373/latin-america-caribbean-assessing-impact-higher-oil-prices-latin-america http://hdl.handle.net/10986/11889
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